US-CHINA: SecState Rubio & FM Wang Hold Call, Second Cabinet-Level Call Of Day

Apr-30 15:00

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MNI London: Reuters reports comments from Chinese Foreign Minister Wang Yi following a call with US ...

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MNI EXCLUSIVE: MNI Interviews Former BOC Senior Deputy

Mar-31 14:52
  • MNI interviews former BOC senior deputy on economy, trade -- On MNI Policy MainWire now, for more details please contact sales@marketnews.com

US TSYS: Modest Risk Off on Iran Retaliation Headline

Mar-31 14:46
  • Treasuries pare back support after Reuters headline quoting Iran sate media that "IRAN'S REVOLUTIONARY GUARDS SAYS THEY WILL TARGET U.S. COMPANIES IN THE REGION AS OF APRIL 1 IN RETALIATION FOR ATTACKS ON IRAN.
  • TYM6 currently below 111-00 at 110-31 (+5), 10Y yield -.0237 at 4.3245%, firm technical resistance is seen at 111-10+, the 20-day EMA. Note that a stronger correction would allow an oversold condition to unwind.
  • Cross asset: Bbg US$ index bounce off 1216.88 low to 1218.78 (-3.62), Crude gaining (WTI at 103.40), stocks still bid (as rate cuts gradually reprice) paring support with SPX emini +1.22%.

IRAN: Pakistan And China Unveil "Five-Point" Peace Plan For Iran

Mar-31 14:42

The Pakistan Ministry of Foreign Affairs has issued a statement on X detailing a "Five-Point Initiative of China and Pakistan for Restoring Peace and Stability in the Gulf and Middle East Region," following a meeting in Beijing between Pakistan’s Foreign Minister Ishaq Dar and Chinese Foreign Minister Wang Yi.

  • The proposal calls for: "Immediate cessation of hostilities; the start of peace talks "as soon as possible" to safeguard the security and sovereignty of Iran and Gulf States; the security of non-military targets; the security of shipping lanes; and to strengthen the primacy of the UN charter.
  • The proposal notes, "The Strait of Hormuz, together with its adjacent waters, is an important global shipping route for goods and energy. China and Pakistan call on the parties to protect the security of ships and crew members stranded in the Strait of Hormuz, allow the early and safe passage of civilian and commercial ships, and restore normal passage through the Strait as soon as possible."
  • The statement is the first public attempt by China to accelerate a diplomatic solution to the war. Some analysts have suggested that China could backstop a potential peace deal with a security guarantee against future hostilities, offsetting the chance that degraded trust between Iran and the US could scupper negotiations.
  • However, the statement makes no explicit mention of China taking an enhanced role in the diplomatic track and couches the statement in a framework of international law, which is unlikely to significantly influence any of the three combatants.